Adele McLean talks about finding your pricing purpose in this week's video blog. Find out if you have succumbed to some of the common pricing pitfalls, like cost-plus and market-based pricing, and how to get your pricing priorities back on track.
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Topics: Pricing with Confidence, Selling with Confidence, Uncovering your Value
As a pricing professional, I always love to quote the study that a 1% improvement in price leads to 11% in operating profit, whereas a 1% increase in volume sold improves only by 3.3%[1]. If the business case for managing and improving price is so apparent, why don’t more companies do it?
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An RFP Just Arrived…
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Topics: Negotiating with Backbone, Newsletter, Selling with Confidence
Reduce, Reuse, Recycle: Reinforcement for Lasting Change
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Topics: Negotiating with Backbone, Newsletter, Selling with Confidence
Last week, big city mayors across the US received the kind of news they dream about: Amazon is looking for a second corporate headquarters, with the promise of billions of dollars of investment and a potential of 50,000 new jobs.1
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Topics: Negotiating with Backbone, Newsletter
The purpose of "big data" is to give managers a clearer vision of something so they can make decisions about products, pricing and distribution. In pricing, it is generally around how customers buy. It uses statistical techniques to group customers into definable segments and helps you figure out how to sell to those segments.
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Topics: Newsletter, Pricing with Confidence, Selling with Confidence, Uncovering your Value
Move beyond the rabbit: sales strategy to be a game changer
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Over the years, we've done some pretty sophisticated analysis - customer profitability, segments, buying intent, and what it's like to work with them. But being in my KISS mode today, I’d like to share a story from some work we did in the transportation industry
We were interviewing a freight terminal manager, and he was discussing the different types of freight they handled. His statement to us was: "Listen, we have two types of freight, green and brown. The green freight is stackable and easy to handle, the brown isn't." We used that simple statement as the basis of the price strategy where the green freight was priced lower and the brown freight priced higher, and it worked quite well.
Think about how this ties to customers. Replace the word “freight” for “customer” – green customers and brown customers.
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Commentary from WSJ Aug 17, 2017 "How Oracle Engineered Its Sales Staff for the Cloud”
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Topics: Newsletter, Selling with Confidence